Spice Corp submits EoI for stake in Satyam

NEW DELHI: B K Modi's Spice Corp today submitted the Expression of Interest (EoI) for acquiring a majority stake in the fraud-hit Satyam Computer Services.

A Spice Corp official said the company, along with the proof of availability of Rs 1,500-crore cash, submitted a formal EoI just before the deadline for the bidders expired at 5 pm today.

Satyam Board is meeting at Hyderabad for two days to scrutinise the bids, after which the shortlisted bidders will be given financial and legal data to submit the final EoI.